Back in January, 6sqft uncovered preliminary renderings of downtown supertall 45 Broad Street, a project of Madison Equities and Italy-based Pizzarotti Group that’s reportedly being designed by the architects at CetraRuddy. The design showed a presumably glass tower, “crowned by a distinctive pitched roof and an angling cantilever located some 400 feet above street level along its northern facade.” After groundwork began at the site earlier this month, The Real Deal has now obtained more concrete views of the tower, which will stretch 1,100 feet high, have 86 floors, and contain 245 condo residences catering to entry- and mid-level buyers. The new renderings mimic the original massing, but show much more detail, like the golden, Gothic-inspired ribs traveling up the facade, the pointed crown, and the narrow mid portion.
The renderings were included in marketing materials given to prospective Chinese investors who may provide financing through the EB-5 visa program. Sources told TRD, “Madison is currently aiming to raise approximately $75 million through the program to finance the project.” Pizzarotti’s website says that the units will be priced for “young singles and family buyers at very affordable prices in today’s market,” and the marketing brochure noted that the building’s average price per square foot would be less than $2,000 and the average apartment would go for less than $2 million. However, according to CityRealty, the average price per square foot for condos in the Financial District is $1,490 and the average sales price is $1.5 million, so this may not be much of a deal.
The tower is expected to have a mix of studios, and one-, two-, and three-bedroom units. There will be 20,000 square feet of amenity space, which includes a 60-foot indoor lap pool, gym, game room, media room, and a garden level at the midsection with indoor and outdoor areas. The base will house 50,000 square feet of commercial space.
The developers expect to officially break ground on the project this fall, with a completion date sometime in 2018. Find future listings for 45 Broad Street at CityRealty.
- Groundwork Begins at Downtown Supertall 45 Broad Street
- REVEALED: 45 Broad Street, Slated to Be Among the Highest Condo Buildings Downtown
- 65-Story Condo Tower Designed by CetraRuddy to Rise in the Downtown Skyline
Neighborhoods : Financial District